Handicapping the Trump Agenda

The controversies swirling around the administration could thwart much of the president’s agenda.

By

Randall W. Forsyth

Updated May 20, 2017 1:22 a.m. ET

By

Randall W. Forsyth

Updated May 20, 2017 1:22 a.m. ET

Politics is not the same as policy. Last week demonstrated that principle, as the latter was overwhelmed by the former in an avalanche of news stories regarding the Trump administration, its sacking of the Federal Bureau of Investigation chief, and the naming of a special counsel for the Russia investigation.

Financial markets had largely ignored the onslaught of news out of Washington until Wednesday, when major U.S. stock...